Transcription of Press Release - careratings.com
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Press Release - careratings.com
1 CARE Ratings Limited Press Release Shiva Pharmachem Limited April 05, 2018 Ratings Facilities Amount (Rs. crore) Ratings1 Rating Action Long-term Bank Facilities (enhanced from Rs. crore) CARE BBB; Stable (Triple B ; Outlook: Stable) Reaffirmed Short-Term Bank Facilities CARE A3+ (A Three Plus) Reaffirmed Total (Rupees Two Hundred Seventy Seven crore and Twenty Three lakh only) Details of instruments/facilities in Annexure-1 Detailed Rationale The ratings assigned to the bank facilities of Shiva Pharmachem Limited (SPL) continue to derive strength from the long standing experience of the promoters in the chemical industry, diversified product portfolio and established business relations with the reputed and longstanding clientele in export and domestic market. The ratings also favourably factor in completion of the capex at the Luna Plant within envisaged time and cost parameters, resumption of operations along with increase in capacity utilisation levels during 11 MFY18 (FY refers to the period April 01 to March 31), growth in the scale of operations during FY17 and 11 MFY18 and confirmed order book from reputed clientele providing healthy revenue visibility in the near term.
2 CARE Ratings Limited Press Release During Q4FY18, SPL had entered in to an agreement with few renowned MNCs’, which provides higher revenue visibility in …
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